Cabot (CBT) to Release Earnings on Monday

Cabot (NYSE:CBT) will post its quarterly earnings results after the market closes on Monday, November 4th. Analysts expect Cabot to post earnings of $1.82 per share for the quarter. Cabot has set its FY24 guidance at $7.00-$7.10 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.20. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.42 earnings per share. On average, analysts expect Cabot to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Cabot Trading Up 1.1 %

CBT opened at $109.02 on Friday. The stock has a market capitalization of $5.98 billion, a PE ratio of 12.96, a P/E/G ratio of 0.92 and a beta of 1.19. The firm’s fifty day moving average price is $108.20 and its 200 day moving average price is $100.75. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45. Cabot has a 12-month low of $65.93 and a 12-month high of $117.14.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CBT shares. JPMorgan Chase & Co. boosted their target price on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. UBS Group lowered their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Cabot has an average rating of “Hold” and an average target price of $101.75.

Insider Transactions at Cabot

In other news, CEO Sean D. Keohane sold 25,617 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the transaction, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the transaction, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Erica Mclaughlin sold 23,274 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the completion of the transaction, the chief financial officer now owns 59,814 shares of the company’s stock, valued at $5,968,839.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,939 shares of company stock worth $7,308,812. Insiders own 3.07% of the company’s stock.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.